36k after tax

MADRID: Spain's former king Juan Carlos, who left his homeland under a cloud of scandal in August, has settled a back tax bill worth over €678,000 (US$817,871) including interest and fines, his lawyers said on Wednesday (Dec 9). The lawyers, in a statement, provided no details on what the back taxes were for. But the newspaper El Pais said earlier the former monarch sought to settle certain alleged illegal credit card transactions with the revenue service to avoid being charged in an investigation and to be able to return to Spain. "In any case, His Majesty King Juan Carlos remains, as always, at the Tax Service's disposal for any procedure it considers necessary," the lawyers said. Prosecutors at Spain's Supreme Court have opened several investigations into Juan Carlos' business dealings, including those linked to a high-speed train contract in Saudi Arabia. Juan Carlos' son, King Felipe, is the current head of state. "The monarchy is not in danger," Prime Minister Pedro … [Read more...] about Spain’s former king pays back taxes after leaving amid scandal

WASHINGTON: President Donald Trump spent a decade unsuccessfully pursuing projects in China, operating an office there during his first run for president and forging a partnership with a major government-controlled company, The New York Times reported on Tuesday (Oct 20). China is one of only three foreign nations — the others are Britain and Ireland — where Trump maintains a bank account, according to a Times analysis of the president’s tax records. The foreign accounts do not show up on Trump’s public financial disclosures, where he must list personal assets, because they are held under corporate names. The Chinese account is controlled by Trump International Hotels Management LLC, which the tax records show paid US$188,561 in taxes in China while pursuing licensing deals there from 2013 to 2015. READ: Trump paid no income taxes in 10 of last 15 years: Report READ: After New York Times revelations, Trump says he paid millions in taxes In response to questions from The … [Read more...] about Tax records show Trump tried to land China projects: Report

WASHINGTON: President Donald Trump has relied on heavy losses across his business empire to help nearly erase his federal income tax bill, according to a report on Sunday (Sep 27) from the New York Times. Citing previously unseen tax-return data going back over 20 years, the New York Times shed new light on Trump's finances. Trump dismissed the story as "fake news" at a news conference on Sunday. Here are some highlights: SMALL TAX BILL In 2016 and 2017, Trump paid just US$750 in federal income taxes, according to the Times. In 10 of the previous 15 years, Trump paid no federal income taxes at all. Despite reporting hundreds of millions of dollars in income, Trump effectively erased his tax bill by reporting heavy losses across his business interests. HIGH-PROFILE LOSSES Some of Trump's most prominent real estate holdings have also been less than profitable, the New York Times reported. Trump reported losing over US$315 million on golf courses since 2000, with much of … [Read more...] about What Trump’s taxes are reported to show

Terming the additional excise burden on fuel as “Modi Tax”, the Congress on Saturday renewed its campaign against the government, demanding an immediate roll back that would bring down the price of petrol to nearly ₹67 per litre and of diesel to ₹53 per litre, as per the party’s estimate. At a press conference, party spokesperson Abhishek Singhvi lambasted the Modi government for confusing customers by attempting to shift the blame on the State governments. Finance Minister Nirmal Sitharaman has said that even if the Centre was to drop the excise and cess on fuel, there is no guarantee that the States will not further hike VAT or State taxes, making little difference to the end consumer. “We demand the immediate withdrawal of “Modi Tax” of ₹23.87 and ₹28.37 per litre on petrol and diesel, which was increased by the Modi government since May 2014. I will like to emphasise that this has got nothing to do with VAT or State taxes, which the BJP tries to confuse the people. I repeat, … [Read more...] about Congress demands roll back of ‘Modi tax’ on fuel

MUMBAI : With barely a month left for BMC to meet its property tax target for the financial year, its assessment and collection department has listed top 100 defaulters in every ward from whom it plans to recover outstanding amounts. The target for the year was Rs4,500 crore but BMC has so far collected only Rs 2,200 crore (around 45%). Officials said the defaulters, mostly commercial establishments, owed the civic body Rs19,000 crore. “We have prepared a ward-wise list and will begin to take action in a descending manner if they do not pay up. Initially, we will focus on commercial establishments. Later, we will act against residential defaulters,” said Sangeeta Hasnale, assistant municipal commissioner (assessment & collection department), adding that in many cases attachment and water disconnection had begun. BMC plans to auction the properties it attaches after deciding their value. Attachments, auctions and disconnection of water supply was prolonged due to … [Read more...] about Mumbai: BMC lists defaulters as it meets only 45% of property tax target